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Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Jul. 02, 2023
Jul. 03, 2022
Income Statement [Abstract]        
Sales to customers $ 25,530 $ 24,020 $ 50,276 $ 47,446
Sales to customers percent to sales 100.00% 100.00% 100.00% 100.00%
Cost of products sold $ 8,212 $ 7,919 $ 16,607 $ 15,517
Cost of products sold percent to sales 32.20% 33.00% 33.00% 32.70%
Gross profit $ 17,318 $ 16,101 $ 33,669 $ 31,929
Gross Profit Percent To Sales 67.80% 67.00% 67.00% 67.30%
Selling, marketing and administrative expenses $ 6,665 $ 6,226 $ 12,803 $ 12,164
Selling marketing and administrative expenses percent to sales 26.10% 25.90% 25.50% 25.60%
Research and development expense $ 3,829 $ 3,703 $ 7,392 $ 7,165
Research and development expense percent to sales 15.00% 15.40% 14.70% 15.10%
In-process research and development impairments     $ 49 $ 610
In-process research and development percent to sales     0.10% 1.30%
Interest income $ (369) $ (64) $ (604) $ (86)
Interest income percent to sales (1.50%) (0.30%) (1.20%) (0.20%)
Interest expense, net of portion capitalized $ 346 $ 38 $ 561 $ 48
Interest expense, net of portion capitalized percent to sales 1.40% 0.20% 1.10% 0.10%
Other (income) expense, net* $ (60) [1] $ 273 $ 7,168 [2] $ 171
Other (income) expense, net percent to sales (0.20%) 1.10% 14.30% 0.40%
Restructuring $ 145 $ 85 $ 275 $ 155
Restructuring charge percent to sales 0.50% 0.40% 0.50% 0.30%
Earnings before provision for taxes on income $ 6,762 $ 5,840 $ 6,025 $ 11,702
Earnings before provision for taxes on income percent to sales 26.50% 24.30% 12.00% 24.70%
Provision for taxes on income (Note 5) $ 1,618 $ 1,026 $ 949 $ 1,739
Provision for taxes on income percent to sales 6.40% 4.30% 1.90% 3.70%
Net earnings $ 5,144 $ 4,814 $ 5,076 $ 9,963
Net earnings percent to sales 20.10% 20.00% 10.10% 21.00%
NET EARNINGS PER SHARE        
Basic (per share) $ 1.98 $ 1.83 $ 1.95 $ 3.79
Diluted (per share) $ 1.96 $ 1.80 $ 1.93 $ 3.73
AVG. SHARES OUTSTANDING        
Basic (shares) 2,598.4 2,629.6 2,601.9 2,629.4
Diluted (shares) 2,625.7 2,667.9 2,630.7 2,669.2
[1] Fiscal second quarter of 2023 Other (income) expense, net includes $37 million related to the 10.4% non-controlling interest in Kenvue from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter.
[2] Fiscal six months of 2023 Other (income) expense, net includes $37 million related to the 10.4% non-controlling interest in Kenvue from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter.